IndexFactors causing the crisisThe causes of internal factorsThe cause of external factorsCrisis management planCrisis managementOperational crisisLegitimation of the crisisChallengesConclusionNumerous studies have been conducted on various aspects of the crisis management plan focusing on the dynamics of the corporate environment which is constantly dealing with many internal and external problems. As a result, a simple mistake could result in a catastrophic crisis that could cripple or destroy company performance. Of course, crises are unexpected and can be defined as an unplanned event that results in the loss of profits and reputation of the company among its customers or the general public. Therefore, organizations should be able to identify the different methods and causes of the crisis and how they might affect the company's progress (Aven & Cox, 2016). Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay However, the essay identifies crises that pose a direct threat to the progress of companies in the financial sectors. In today's business world, financial organizations continue to suffer from cybercrime attacks and this in most cases results in crises which sometimes lead to countless huge losses for businesses. Regardless of the nature of the crisis; Small or large, any crisis caused by man or nature could have much greater impacts on the company. Therefore, the essay discusses both external and internal factors that cause crisis in an organization. Also, develop a crisis management plan that explains the few challenges that an organization's management team faces while implementing the crisis management plan. Factors Causing Crisis A financial institution such as commercial banks plays a crucial role in the financial stability and economic development of a country or business organization; therefore it is important to distinguish between internal and external crises that can play a role in the functioning of a financial institution. In most cases, organizations cannot control the external crisis that can affect the organization, but they must try to anticipate and adapt to these crises to be able to prevent the organization from becoming vulnerable. However, managers and entrepreneurs do not directly influence the internal crisis that may affect their businesses and how they manage it or adapt to such crises have a major impact on the success of their businesses. The financial institution should strive to minimize both internal and external factors that could cause a crisis in the organization. Financial institutions such as banks, credit unions, and other financial markets are constantly attacked by external factors such as theft and cyberattacks that originate in the digital realm (Bergström, Uhr & Frykmer, 2016). Over the decades, the improving digital landscape has increased the escalation of cyber attacks in most business organizations. As such management strives to protect the valuable information, reputation, brand and customers by preventing any internal or external factor that may cause a crisis in the organization. As a result, attention paid to internal and external factors can divert management's attention from the organization's primary tasks. organization. This could result in lost productivity, which can lead to loss of profit margin. Therefore, management should develop a strategic crisis management plan which should aim to be well preparedfor any crisis, ensuring a radical response mechanism, including maintaining adequate relationships and communications during the crisis period and rules for crisis resolution (Bergström, Uhr & Frykmer, 2016). The existing factors that can cause a crisis in a financial institution can be classified into two; internal and external factors.The causes of internal factorsThe internal factors occurring within the organization involved internal stakeholders and lack of other resources. These factors emerge when a person's morals, values, or beliefs are challenged or compromised. The internal factor can cause a lot of stress to the workers involved and can impact the worker's performance level. Internal factors include lists of things within the organization that could cause a potential crisis to arise. Unlike external factors, internal factors can be controlled by management. Managing the internal factors that can cause the organization to fail is the key to business success because management can effectively manage these factors. Management plays a very essential role in the internal factor that can lead to crisis. These internal factors may include; Leadership factors; Leadership refers to the individual in an organization who makes all important decisions affecting the operation of the company, including financing, sales, budgeting, human resources, and marketing (Booth, 2015). A company's leadership styles can greatly influence organizational performance both negatively and positively. Poor leadership can result in a lack of a strong visionary who is unable to adequately manage employees; this results in an internal crisis that can significantly affect the success of the company. Personnel-related factors, employees constitute an important part of the company's internal environment. Ensuring your employees have the right skills to do the job is essential to the success of your organization. Even if everyone is capable and talented, internal social conflicts and poor communication can cripple a good company. Financing factors, the lack of money in any organization, can determine whether the company will survive or close down its operations. For example, when your cash resources are too limited, it affects all levels of your organization's functionality. Cultural factors, culture consists of the values, attitudes and behaviors that employees live by. For example, if you create a culture where every employee competes with each other, it's a recipe for the internal, but if you emphasize collaboration and teamwork, you will achieve the desired result. Communication factors are information strategies that are part of an organization's administrative procedures that may include inadequate or inaccurate record keeping. It may also include outdated or faulty IT systems. These factors influence the organization's ability to achieve its goals and objectives. These factors pose a threat that can alter the way potential customers perceive the organization. Domestic cyber-hacking crimes; some employees may disclose internal data that could lead to a potential crisis that could threaten the future of the organization. It is quite difficult for management to believe that employees can sabotage the organization's data. The cause of external factors External factors occur outside the organization, which affects the smooth functioning and success of the company. Unlike internal factors, management has no control over the factorsexternal; but they must try to anticipate plans and adapt to these crises should they occur. A good example of an external factor includes; cyber crime or hacking, hackers could access the organizational system unnoticed and extract or sabotage critical information and data. The main objective is to obtain credential information of the organization, customers and employees through the system with complete access to the company's financial affairs (Bundy & Pfarrer, 2015). The attempt could cause a devastating risk that would result in a major crisis that would affect business performance. Market risk factors are also an important factor that would lead to a potential crisis. This crisis leads to losses in the organization's trading book as a result of changes in stock prices, interest rates, exchange rates, credit spreads and commodity prices, the value of which cannot be controlled by management but it is set by the public market. Dahles and Susilowati(2015) suggest that management should try to anticipate a plan and adapt to the crisis to be able to keep the organization on track should the crisis occur. Cussurri and death and deny them treatment. As soon as the first engineered baby is born, a door opens that can no longer be closed. 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